Pre-product chip startup Nuvacore seeks funding at a roughly $2.5 billion valuation.

Reuters reported that Nuvacore is seeking hundreds of millions of dollars at a valuation of about $2.5 billion. The company is only six months old and has not yet produced a finished chip; the sources cautioned that both the amount raised and the valuation could still change.

Nuvacore says it plans to develop the core function of its data-center processor before committing to an instruction-set architecture such as x86 or Arm. The company, founded by veteran chip engineers including former Apple executive Gerard Williams, declined to comment on the fundraising.